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PetroCap reaches $350m target

by Andrea Waitrovich

PetroCap has reached its equity fundraising target with PetroCap Partners II, according to an SEC filing. An official announcement of a final close was not disclosed in the filing.

The energy fund launched in April 2014 with $350 million. PetroCap Partners II makes control investments in non-operated working interests alongside operators in on-shore oil and gas projects in the United States. Investments range in size from $5 million to $50 million, and returns will be derived from the income from oil and gas production as well as capital appreciation from increased reserves.